Entire Section

  • GEN 4.3 GEN 4.3 Principles for Authorised Individuals — application

    • GEN 4.3.1 GEN 4.3.1

      The six Principles for Authorised Individuals set out in GEN section 4.4 apply to every Authorised Individual in respect of every Licensed Function.

      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

      • GEN 4.3.1 Guidance

        1. The Principles for Authorised Individuals do not apply to an Authorised Individual in respect of any other functions he may carry out, although his conduct in those functions may be relevant to his fitness and propriety.
        2. Breaching a Principle for Authorised Individuals makes an Authorised Individual liable to disciplinary action and may indicate that he is no longer fit and proper to perform a Licensed Function and the DFSA may consider suspending or withdrawing Authorised Individual status on that basis.
        3. The onus will be on the DFSA to show that he is culpable, taking into account the standard of conduct required under the Principle in question. In determining whether or not the particular conduct of an Authorised Individual complies with the Principles for Authorised Individuals, the DFSA will take account of whether that conduct is consistent with the requirements and standards relevant to his Authorised Firm, the Authorised Individual's own role and the information available to him.

        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]